Eqis Capital Management Inc. Has $923,000 Position in Canadian Solar Inc. (NASDAQ:CSIQ)

Eqis Capital Management Inc. reduced its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 11.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,261 shares of the solar energy provider’s stock after selling 5,231 shares during the period. Eqis Capital Management Inc. owned approximately 0.07% of Canadian Solar worth $923,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Solar by 27.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,453,151 shares of the solar energy provider’s stock valued at $27,072,000 after buying an additional 310,619 shares during the last quarter. Norges Bank purchased a new position in Canadian Solar in the 4th quarter valued at about $17,966,000. Millennium Management LLC boosted its position in Canadian Solar by 3,305.5% in the 4th quarter. Millennium Management LLC now owns 963,017 shares of the solar energy provider’s stock valued at $13,810,000 after buying an additional 934,739 shares during the last quarter. Acadian Asset Management LLC boosted its position in Canadian Solar by 51.4% in the 1st quarter. Acadian Asset Management LLC now owns 401,945 shares of the solar energy provider’s stock valued at $7,490,000 after buying an additional 136,547 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its position in Canadian Solar by 125.2% in the 1st quarter. ClariVest Asset Management LLC now owns 281,210 shares of the solar energy provider’s stock valued at $5,239,000 after buying an additional 156,328 shares during the last quarter. 41.10% of the stock is owned by institutional investors.

Several brokerages have recently commented on CSIQ. JPMorgan Chase & Co. set a $25.00 price target on shares of Canadian Solar and gave the stock a “hold” rating in a research report on Friday, June 21st. Zacks Investment Research raised shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Thursday, June 20th. BidaskClub raised shares of Canadian Solar from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd. Cascend Securities increased their price target on shares of Canadian Solar from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday. Finally, ValuEngine cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Canadian Solar has an average rating of “Hold” and a consensus price target of $23.00.

Shares of CSIQ stock opened at $23.08 on Friday. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 0.28 and a beta of 2.22. Canadian Solar Inc. has a one year low of $12.69 and a one year high of $25.89. The company’s 50-day simple moving average is $21.37 and its 200-day simple moving average is $20.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.01.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, August 15th. The solar energy provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.54. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $990.29 million. Canadian Solar had a net margin of 6.29% and a return on equity of 12.92%. Canadian Solar’s quarterly revenue was up 59.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. As a group, research analysts forecast that Canadian Solar Inc. will post 2.45 EPS for the current year.

Canadian Solar Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Institutional Ownership by Quarter for Canadian Solar (NASDAQ:CSIQ)

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